Taylor Maritime Investments (TMI) is proposing relaxing financial restrictions to give it the firepower to complete its takeover of Grindrod Shipping.
The London-listed shipowner said the idea is to allow greater flexibility over the size and financing of investment it can make, while not detracting from its overall “objective, policy and investment philosophy”.
Dry bulk player TMI is paying $26 per share for Nasdaq-listed Grindrod in a deal valuing the target at $494m.
